Pictet Asset Management Holding SA Increases Stock Holdings in Teradyne, Inc. $TER

Key Points

• Pictet Asset Management increased its Teradyne stake by 22.1% in the second quarter, adding 177,167 shares to own 977,716 shares worth approximately $472.8 million. Institutional investors collectively own 99.77% of the company.
• Analysts maintain a bullish outlook, with a consensus “Moderate Buy” rating and an average price target of $396.80; several firms recently raised their targets, including Bank of America to $525 and Cantor Fitzgerald to $550.
• Teradyne reported strong quarterly results, with adjusted earnings of $2.47 per share and revenue of $1.33 billion, exceeding estimates and representing 103.9% year-over-year revenue growth. Shares opened at $418.79, near the upper end of their 52-week range.

Pictet Asset Management Holding SA increased its stake in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) by 22.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 977,716 shares of the company's stock after buying an additional 177,167 shares during the quarter. Pictet Asset Management Holding SA owned 0.62% of Teradyne worth $472,788,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Caitong International Asset Management Co. Ltd bought a new position in Teradyne during the 4th quarter valued at $28,000. Community Financial Services Group LLC bought a new position in shares of Teradyne during the second quarter valued at about $29,000. McIlrath & Eck LLC purchased a new position in Teradyne during the first quarter worth about $30,000. Elevation Wealth Partners LLC increased its stake in Teradyne by 1,320.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 71 shares of the company's stock valued at $34,000 after buying an additional 66 shares during the last quarter. Finally, CYBER HORNET ETFs LLC bought a new position in shares of Teradyne during the 2nd quarter worth approximately $35,000. 99.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on TER. Bank of America upped their target price on Teradyne from $365.00 to $525.00 and gave the company a "buy" rating in a report on Tuesday, June 23rd. Cantor Fitzgerald reissued an "overweight" rating and issued a $550.00 price objective on shares of Teradyne in a research report on Wednesday, July 29th. Morgan Stanley upped their price objective on Teradyne from $387.00 to $397.00 and gave the company an "equal weight" rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. upgraded Teradyne from a "neutral" rating to an "overweight" rating and set a $400.00 target price on the stock in a research note on Thursday, April 30th. Finally, UBS Group boosted their price target on shares of Teradyne from $440.00 to $500.00 and gave the stock a "buy" rating in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $396.80.

Insider Transactions at Teradyne

In other Teradyne news, insider Shannon John Poulin sold 1,008 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $345.37, for a total transaction of $348,132.96. Following the completion of the transaction, the insider owned 15,066 shares in the company, valued at $5,203,344.42. This trade represents a 6.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gregory Stephen Smith sold 4,000 shares of Teradyne stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $423.03, for a total transaction of $1,692,120.00. Following the completion of the transaction, the chief executive officer owned 120,470 shares of the company's stock, valued at $50,962,424.10. The trade was a 3.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 5,664 shares of company stock valued at $2,273,133 in the last quarter. Company insiders own 0.19% of the company's stock.

Teradyne Price Performance

Shares of NASDAQ TER opened at $418.79 on Friday. The stock has a market capitalization of $65.47 billion, a PE ratio of 57.45, a P/E/G ratio of 0.83 and a beta of 1.78. Teradyne, Inc. has a one year low of $106.30 and a one year high of $487.91. The business's fifty day moving average price is $384.26 and its 200-day moving average price is $348.39.

Teradyne (NASDAQ:TER - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.38. Teradyne had a return on equity of 39.93% and a net margin of 25.77%.The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the firm posted $0.57 EPS. The firm's revenue for the quarter was up 103.9% on a year-over-year basis. As a group, equities analysts expect that Teradyne, Inc. will post 9.1 EPS for the current fiscal year.

About Teradyne

Teradyne, Inc is a global supplier of automatic test equipment and related services principally used to test semiconductors, wireless products and complex electronic systems. Founded in 1960, the company is headquartered in North Reading, Massachusetts, and has a long history of developing capital equipment and software that help semiconductor manufacturers, electronics OEMs and contract manufacturers validate product performance and reliability during design and production.

The company's product portfolio centers on automatic test equipment (ATE) and system-level test solutions that address chip- and board-level validation, burn-in and reliability screening.

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